Credit Suisse mulls major outsourcing deal

Investment bank Credit Suisse First Boston (CSFB) could be about to shunt almost 400 IT jobs outside the company as part of a global outsourcing move.

Staff were told earlier today of the planned moves. Those affected include the whole range of CSFB's end-user computing function, including deployment and helpdesk support.

Staff were told that IBM and HP are the front runners for the outsourcing deal with both companies currently being scrutinised before any final decision is made.

It's not known when - or if, come to that - the outsourcing might go ahead.

One insider described today's announcement as "unpleasant, but unsurprising news" and raised concerns that the move to a different company might result in the potential loss of CSFB benefits such as pension rights.

A spokeswoman for CSFB declined to comment. ®